from RBC says short of a housing crash that would"destroy property values" in Canada, it will take years and concerted efforts to restore affordability.
According to RBC, in order to see any sort of difference in the current housing situation, supply needs to increase by giant leaps. "We believe those pressures are behind the notable cooling in home resale activity we saw this summer in Ontario and British Columbia. They are poised to weigh on demand for months to come in both regions, with many buyers entirely priced out in Vancouver and Toronto," reads the report.
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